403 shares

In its latest round of funding, Silicon Valley’s “unicorn”, Snapchat, raised $175 million USD from fund manager, Fidelity Investments. The new cash injection however, did nothing for the Snapchat’s valuation which remained at $16 billion USD. This financing brings the total amount raised by Snapchat to $1.4 billion USD.
Individuals familiar with the deal stated that the shares Fidelity paid for were technically bought last year. Hence, the reason there may not have been any increase in its valuation.